Here are some notable developments in the Bitcoin and cryptocurrency space as of January 15, 2025:
1. North Korean Crypto Heists Surpass $650 Million in 2024: North Korean hackers were responsible for stealing a total of $659 million in cryptocurrency across several heists in 2024. Notable incidents included a $235 million theft from Indian crypto exchange WazirX and a $308 million theft from Japan’s DMM Bitcoin, leading to the exchange’s closure. The notorious Lazarus Group was identified as the perpetrator. The U.S., Japan, and South Korea have urged crypto businesses to remain vigilant against such tactics.
2. Intesa Sanpaolo Makes First Bitcoin Purchase: Intesa Sanpaolo, Italy’s largest banking group, has made its first direct investment in Bitcoin, acquiring 11 bitcoins worth approximately €1 million. CEO Carlo Messina described the investment as experimental, aimed at preparing for future client demands. The bank has been equipped to operate with cryptocurrencies since November 2023, ensuring efficient risk management.
3. MicroStrategy Raises $2.6 Billion at 0% Interest to Buy Bitcoin: MicroStrategy has raised $2.6 billion through a 0% convertible bond issuance, intending to use the funds to purchase more Bitcoin. Investors are attracted to the potential gains if MicroStrategy’s stock continues to rise, given its substantial Bitcoin holdings. This strategy reflects growing institutional interest in cryptocurrency investments.
4. Bitcoin Lags Behind Ethereum and Dogecoin in Sustainability: Bitcoin is facing challenges in sustainability due to its significant energy consumption. While Ethereum and Dogecoin have transitioned to proof-of-stake networks, reducing their energy usage by over 99.9%, Bitcoin continues to rely on the energy-intensive proof-of-work mechanism, consuming about 169.70 terawatt-hours annually. Efforts to use renewable energy sources for mining are ongoing, but without a shift to a proof-of-stake model, Bitcoin’s high energy usage is expected to persist.
5. Increase in Cryptocurrency Scam Victims Falling for Multiple Scams: Nearly half of scam victims fall prey to scams multiple times, with three out of ten victims being defrauded more than once. An urgent warning has been issued, particularly concerning cryptocurrency-related scams, where fraudsters pose as different companies or fake fraud recovery firms, promising to help recover lost funds but end up stealing more money. Victims have suffered significant financial losses, highlighting the need for increased vigilance.
6. Analysts Predict Bitcoin Could Reach $400,000 Under Trump Administration: Analysts forecast that Bitcoin’s value could soar to $400,000 in 2025, driven by favorable cryptocurrency policies anticipated from President Donald Trump’s administration, including the establishment of a strategic Bitcoin reserve. Bitcoin’s price surged by 120% in 2024, influenced by Trump’s election victory and his promise to end regulatory constraints on cryptocurrencies. Market forecasts range from $120,000 to $250,000, fueled by strong institutional investments and the potential impact of spot Bitcoin ETFs.
7. U.S. Regulator Proposes Tougher Customer Protection on Crypto Accounts: The U.S. Consumer Financial Protection Bureau (CFPB) has proposed that cryptocurrency companies should be responsible for reimbursing customers for losses due to hacks or unauthorized transactions, aligning digital wallet security standards with those of traditional bank accounts. This proposal requires companies to strengthen security measures and maintain higher reserves, aiming to extend the scope of the Electronic Fund Transfer Act to include stablecoins and other fungible digital assets.
8. Text Messaging Scammers Steal $2 Million in Cryptocurrency: Scammers have stolen over $2 million in cryptocurrency by deceiving individuals seeking remote job opportunities. Victims were contacted via unsolicited text messages, promised well-paying jobs, and instructed to open cryptocurrency accounts. Instead of receiving their investments plus commission, the funds were diverted into the scammers’ digital wallets. Authorities are working to trace and freeze the stolen crypto assets, aiming for restitution to the victims.
These developments highlight the dynamic nature of the cryptocurrency landscape, encompassing regulatory changes, institutional investments, security challenges, and market forecasts.
Recent Developments in the Cryptocurrency World
North Korea linked to crypto heists of over $650 million in 2024 alone
Intesa Sanpaolo realiza su primera compra de bitcoin al contado
Why investors are lending MicroStrategy billions of dollars at 0% interest so it can buy bitcoin
